Punjab National Bank (PNB) said on Friday that it is looking to further monetise its non-core assets, including sale of its stake in UTI Mutual Fund and life insurance venture Canara HSBC OBC Life Insurance. The bank...
A merger of Srei companies’ debt could boost recovery
Lenders to the bankrupt Srei Group are hoping that consolidation of the two debt-laden companies – Srei Infrastructure Finance and Srei Equipment Finance – will enhance its value and ensure a better recovery...
285 firms face bankruptcy action in Apr-Sep
Lenders took 285 companies to bankruptcy tribunals in the six months to September after a year-long moratorium on bankruptcy action was lifted in March, official data showed. In the September quarter alone, 144...
KKR India Fin Services and InCred ink deal to merge their lending biz
A year after entering into talks for a partnership, American private equity giant KKR’s non-bank lending business KKR India Financial Services (KIFS) and InCred Financial Services, the retail and MSME lending business...
Centrum-Bharatpe joint venture to pump Rs 1,800 crore into PMC on merger
The joint venture floated by Centrum Group and digital payments startup Bharatpe for launching a small finance bank will infuse Rs 1,800 crore capital into troubled Punjab & Maharashtra Cooperative Bank (PMC) on its...
PSU banks ask for second restructuring window, lower provisions
Public sector bankers have asked Reserve Bank of India (RBI) to extend the second round of restructuring for all companies with a reduced provision rate of 5% versus 10% done last year. In a video conference with RBI...
Public sector banks in turmoil after mega merger: Parliament panel
The mega merger of public sector banks (PSBs) has led to a “turmoil” as the state-owned banks do not have the necessary talent for specialised functions like risk management and new financial technologies, the...
Govt may kickstart privatization exercise with two small PSU lenders
The government is likely to kickstart privatization in the banking sector with stake sales in two small state-run banks, Punjab and Sind Bank and Bank of Maharashtra, according to analysts. Delivering her budget speech...
RBI merges Lakshmi Vilas Bank with DBS Bank India
The Reserve Bank of India has merged capital-starved Lakshmi Vilas Bank (LVB) with the Indian subsidiary of Singapore’s DBS Bank. The central bank had to go ahead with the merger plan as there was no credible revival...
IndoStar Capital to exit corporate lending business by March 2022
Alternative asset manager Brookfield and private equity player Everstone promoted non-banking finance company IndoStar Capital Finance is looking to fully exit from corporate lending business by March 2022, its...
LVB deal showcases new M&A battlefield
It seems there’s no stopping persistent bank failures in India. Over recent years, there this has happened across categories of banks: public sector banks (IDBI Bank), new private sector banks (Yes Bank) and cooperative...
Proposed LVB-DBS merger a remarkable job: RBI board member
RBI board member Manish Sabharwal on Thursday praised the central bank on its proposal to merge Lakshmi Vilas Bank (LVB) with the Indian arm of Singapore-based DBS Bank, saying the scheme is a new template where a...